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How Much Can You Get For An Auto Title Loan?

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How Much Can You Get For An Auto Title Loan?

When you call Max Cash Title Loan we know you are in a bind and are seeking peace of mind, we know that the big question is, how much can I get on my car and how much is it going to cost me?  When you are looking for a quote you will not just be getting a quote we will be running the vin number and getting you an actual offer. In some cases you can get a definitive answer on your loan amount with in the first 15 minutes of the initial conversation.

To answer this question is not just a simple number, the number could range for $200-$50,000 depending on the type of vehicle you have and what state you live in.

Now in some states they will only allow a max loan of $4000. Illinois is the state where they will only allow you to take out a $4000 loan, also in the state of Illinois the only acceptable for of proof of income is pay stubs and social security award letter, any other type of proof of income is not permissible to use.

In just about in every state there is a different minimum the lender requires to be taken out this is not always a state law as it is in Illinois.

Lets give an example , so lets say your vehicle is titled and registered in the state of California , you have a 2013 GMC Yukon paid off and are looking to get a $15,000 loan against it and we know there is equity in it.  You had purchased the vehicle with cash so you would not have payments hanging over your head, now you have this $50,000 vehicle that is paid off with all kinds of equity in it and you have no clue what can be borrowed, Now just because this vehicle was worth $50,000 does not mean the full amount of equity will be available to you, there is  very simple reason for this when the lender is going over the details with you they will ask about your monthly obligations and then compare that to what your payments would be on the loan if it takes up 75% or more of your monthly income the lender will need to make a smaller offer because legally they are not allowed to let you over extend yourself on the payments amount you are requesting  they deciding factor is going to be the provable income you have to show . For situations like this there is a really simple fix a co-signer could assist you getting you closer to what you are asking for if not the full amount. The co-signer would need to provide all the same documents as the primary applicant, such as a valid driver’s license their proof of income they would also need to show some sort of utility bill with their name on it dated with in the last 30 days and the last thing would be personal references. In most cases the references are not called on the rare chance they would be called, the only information they would be given is that the peoples calling your references are a reference verification service calling to verify that they know you. Now there can be a wide array of reasons you would give references.

 

In every state the laws and loan amounts are different the best thing to do to find out what the value of your vehicle is worth would be to call the agents at Max Cash Title Loans, they are truly the best at what they do. Estimating a vehicle for auto title loans is not easy you cannot rely on running the basic information through Kelly Blue Book because that is not how the vehicles are valued when trying to figure out the amount available on your vehicle. When you call the agents at Max Cash Title Loans you can rest assured that you have an ace up your sleeve, because the agents have a very special relationship with the lenders and have a lot of pull when it comes to getting exceptions and getting you more funds. Remember our job is not done until you get your money!

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